The envoys of the United Kingdom and the United States of America in Nigeria have said that the problems being faced by leading telecommunications giant, MTN, have scared investors from both countries from Nigeria, resulting in some of them pulling back and others withdrawing fresh offers and taking them to neighbouring countries.
The Central Bank of Nigeria had in August ordered MTN to refund to the Federal Government the sum of $8,134,312,397.63 alleged to have been illegally repatriated to South Africa.
The order came three years after the firm faced a record-breaking $5.2bn fine for non-registration of subscribers.